ITR'S TRIBUNAL TAX REPORTS (ITR (TRIB))--PRINT AND ONLINE EDITION
SUBJECT INDEX TO CASES REPORTED
Export --Exemption--Communication expenses excluded from export turnover--To be excluded also from total turnover--Income-tax Act, 1961, s. 10A-- United Online Software Development (India) P. Ltd. v. ITO (Hyd) . . . 177
International transactions --Arm’s length price--Determination--Transactional net margin method--Software development services--Selection of comparables--Companies having turnover falling within particular range to be considered--Functionally different companies to be excluded from comparables--Matter remanded for decision afresh on giving assessee an opportunity of being heard--Income-tax Act, 1961, s. 92CA-- United Online Software Development (India) P. Ltd. v. ITO (Hyd) . . . 177
Volume 34 : Part 2 (Issue dated : 1-9-2014)
SUBJECT INDEX TO CASES REPORTED
Advance-tax --Interest--No liability to pay interest for contracts where income taxable under section 44BB on presumptive basis--Assessee liable to pay interest in respect of contracts income from which arose in India--Income-tax Act, 1961, s. 234B-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
Charitable purpose --Registration of trust--Cancellation of registration--Commissioner discharging quasi-judicial duty--No mala fide intention--No award of costs warranted--Income-tax Act, 1961, s. 12AA-- Parkar Medical Foundation v. Deputy CIT (Pune) . . . 286
----Registration of trust--Cancellation of registration--Only on Commissioner’s satisfaction that activities of trust not genuine or not carried out in accordance with objects of trust--Income-tax Act, 1961, ss. 12A, 12AA-- Parkar Medical Foundation v. Deputy CIT (Pune) . . . 286
Income from undisclosed sources --Search and seizure--Bank pass-books and cheques of non-resident external account belonging to non-resident Indians found in assessee’s possession during search--Only foreign remittance permissible in non-resident external account--Additions in hands of resident assessee not valid--Income-tax Act, 1961-- Asst. CIT v. Mohammed Mohsin Rajabali Dosani (Ahd) . . . 271
----Seizure of loose sheet showing payment of amount to assessee--Payments not reflected in books of account--Assessee offering to adjust undisclosed income--No record to establish that payments were actually made to assessee--No addition can be made solely relying upon a single piece of paper unless there are enough corroborative evidence--Matter remanded--Income-tax Act, 1961-- Bhaskar Rao (B.) v. Deputy CIT (Hyd) . . . 277
Non-resident --Taxability in India--Income deemed to accrue or arise in India--Terms of contract revealing intention of party to appropriate goods in India--Parties intended for transfer of title in goods in India--Income accrued or arose in India--Matter remanded to Assessing Officer for attributing income out of contracts to extent of operations relating to sales carried out in India--Matter remanded--Income-tax Act, 1961, s. 5-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
----Taxability in India--Prospecting for, or extraction or production of, mineral oils--Section 44BB encompasses within its ambit all the services connected with oil exploration--Special provision prevails over all other provisions dealing with royalty or fees for technical services--Retrospective amendment not applicable as higher tax burden on assessee--Income to be assessed under section 44BB--Income-tax Act, 1961, s. 44BB-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
Penalty --Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable--Income-tax Act, 1961, ss. 269SS, 269T, 271D, 271E, 273B--Lodha Builders P. Ltd. v. Asst. CIT (Mumbai) . . . 157
----Limitation--Period starts from date of “action for imposition of penalty†--Meaning of “action for imposition of penalty†--Assessing Officer making reference to Additional Commissioner for initiation of penalty is date of “action for imposition of penalty†not date of show cause notice by Additional Commissioner--Income-tax Act, 1961, s. 275(1)(c)--Lodha Builders P. Ltd. v. Asst. CIT (Mumbai) . . . 157
Presumptive tax --Non-resident--No Double Taxation Avoidance Agreement with Cayman Islands--Provisions of Income-tax Act applicable--Consumables in connection with prospecting for, extraction or production of mineral oil supplied along with plant and machinery given on hire--Receipts taxable under section 44BB--Income-tax Act, 1961, s. 44BB-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
S. 5 --Non-resident--Taxability in India--Income deemed to accrue or arise in India--Terms of contract revealing intention of party to appropriate goods in India--Parties intended for transfer of title in goods in India--Income accrued or arose in India--Matter remanded to Assessing Officer for attributing income out of contracts to extent of operations relating to sales carried out in India--Matter remanded-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT(International Taxation) (Delhi) . . . 192
S. 12A --Charitable purpose--Registration of trust--Cancellation of registration--Only on Commissioner’s satisfaction that activities of trust not genuine or not carried out in accordance with objects of trust-- Parkar Medical Foundation v. Deputy CIT (Pune) . . . 286
S. 12AA --Charitable purpose--Registration of trust--Cancellation of registration--Commissioner discharging quasi-judicial duty--No mala fide intention--No award of costs warranted-- Parkar Medical Foundation v. Deputy CIT (Pune) . . . 286
----Charitable purpose--Registration of trust--Cancellation of registration--Only on Commissioner’s satisfaction that activities of trust not genuine or not carried out in accordance with objects of trust-- Parkar Medical Foundation v. Deputy CIT (Pune) . . . 286
S. 44BB --Non-resident--Taxability in India--Prospecting for, or extraction or production of, mineral oils--Section 44BB encompasses within its ambit all the services connected with oil exploration--Special provision prevails over all other provisions dealing with royalty or fees for technical services--Retrospective amendment not applicable as higher tax burden on assessee--Income to be assessed under section 44BB-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
----Presumptive tax--Non-resident--No Double Taxation Avoidance Agreement with Cayman Islands--Provisions of Income-tax Act applicable--Consumables in connection with prospecting for, extraction or production of mineral oil supplied along with plant and machinery given on hire--Receipts taxable under section 44BB-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
S. 234B --Advance-tax--Interest--No liability to pay interest for contracts where income taxable under section 44BB on presumptive basis--Assessee liable to pay interest in respect of contracts income from which arose in India-- Baker Hughes Asia Pacific Ltd. v. Addl. DIT (International Taxation) (Delhi) . . . 192
S. 269SS --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable-- Lodha Builders P. Ltd. v. Asst. CIT(Mumbai) . . . 157
S. 269T --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable-- Lodha Builders P. Ltd. v. Asst. CIT(Mumbai) . . . 157
S. 271D --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable-- Lodha Builders P. Ltd. v. Asst. CIT(Mumbai) . . . 157
S. 271E --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable-- Lodha Builders P. Ltd. v. Asst. CIT(Mumbai) . . . 157
S. 273B --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Transactions between sister concerns by way of journal entries--Extinguishment of mutual liabilities between assessees and sister concerns--Reasonable cause--Penalty not sustainable-- Lodha Builders P. Ltd. v. Asst. CIT(Mumbai) . . . 157
S. 275(1)(c) --Penalty--Limitation--Period starts from date of "action for imposition of penalty"--Meaning of “action for imposition of penalty†--Assessing Officer making reference to Additional Commissioner for initiation of penalty is date of “action for imposition of penalty†not date of show cause notice by Additional Commissioner-- Lodha Builders P. Ltd. v. Asst. CIT (Mumbai) . . . 157
No comments:
Post a Comment